ConAgra ($CAG) podcast mentions

1. On consumer, we got downgrades of Dick's, Nike, VF Corp., Evercore cuts numbers, Kraft Campbell's, Conagra.

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2. Meantime, the Bab al-Mandeb Strait, a lifeline for the global economy, is in jeopardy as the Houthis have tightened their grip on the shipping route. Houthi forces have reportedly captured Perim, an island in the middle of that vital strait. This is— talks between the U.S. and Iran do not appear to be on the table, but plans are underway to hold a meeting on Monday with Persian Gulf states and Iran to discuss regional issues and the outcome of Iran-Oman negotiations on safe shipping routes through the Strait of Hormuz. Food prices are expected to increase for the rest of the year due to rising energy and fertilizer costs as well as tariffs on imports. Companies from ConAgra to Campbell's are planning to raise prices on certain products, including frozen dinners and meals, to maintain profit margins. Spice and condiment maker McCormick& Company has said it expects higher prices to bolster results in the second half of this year. Campbell's says it plans to raise prices by 4-5% on about 60% of its products. Products, mostly meals and snacks. That's news when you want it with Bloomberg News Now. I'm Matt Piper and this is Bloomberg.

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3. Well, I think they want to— at least we're hoping— is to bring, you know, shareholder returns. And they seem to be committed with that, but not necessarily this year. They, like you said, they slashed dividend. This is the third company that has done that this year after ConAgra and B&G. And, you know, a consumer staples company cutting dividends is it's a significant red flag as I will see it. You know, you don't have a lot of growth. So share buybacks and dividends are, you know, your, your bread and butter and you're not necessarily doing that. So yeah, they're hoping they save $170 million annually that is going to go to debt repayment.

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